Industry Alliance members are looking to create positive change between both industries while supporting TASC standards and guidelines.
Madison, Wis. (PRWEB) October 1, 2009
The Association of Settlement Companies (TASC) took another step forward in assisting consumers struggling with debt as it expanded its membership to include creditors, the organization announced today.
TASC--the nonprofit watchdog of the industry--consists of 200+ debt settlement companies, industry vendors, law firms and now creditors, collection agencies, debt buyers and data/analytic providers through an "Industry Alliance" membership. These members provide services to the debt settlement industry such as settling and/or reducing consumer debts, software, marketing and card industry knowledge.
"Debt settlement companies work with creditors every day on behalf of their clients, so this was a logical partnership," Teresa Schumann-Dodson, an executive board member of TASC, said. "Industry Alliance members are looking to create positive change between both industries while supporting TASC standards and guidelines."
Debt settlement companies have staff that are trained and experienced in working with creditors. To put a value on this relationship, TASC revealed recently that the industry returned more than $2.2 billion in consumer debt last year. In addition, TASC's research shows more than $500 million in settlement funds saved by consumers are available to credit card companies today.
As part of the application process, TASC board members will conduct reference checks on all potential Industry Alliance members.
About The Association of Settlement Companies
The Association of Settlement Companies (TASC) promotes fair business practices, consumer protection and industry standards for the debt settlement industry. TASC, founded in 2005, serves to protect consumers through an organization seal that represents best practices and standards of reputable companies. The organization also protects its member companies through lobbying efforts at the state and national levels, as well as awareness initiatives to educate consumers on debt settlement as a financial solution. All TASC member companies pledge compliance to strict association bylaws governing business practices and ethics. For more information, visit tascsite.org.